2022 mini-budget discussion

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GordyR said:
I’m in precisely that group and I think that this budget is absolutely catastrophic. The £12k+ I’m saving in tax is pouring away with the value of the pound and it’s only going to get worse as these inflationary policies start to feed in to the economy, requiring ever more drastic action from the BoE to kerb.

I do not want to be privately wealthy in a country that is publicly impoverished.
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I'm glad someone has said it, thank you for not being a ****.
 
Besty said:
I am breaking my record here, i usually average one post per year in this area of the forum but maybe one of you will learn what's going on and it might help you make a good decision.

It's not just bonuses and the 45% rate but the main problem was also corporation tax and the IR35 stuff, it was all conjoined together into one big problem.

In 1981 the country was flat broke, my family, my father had to borrow money of our neighbour to put 50p into the electricity meter at one point, we did not have carpets on the floor and life was pretty grim.

As for me, as I stated earlier in the thread, the tax cuts are great but if Portugal are offering me a 28% tax rate and Spain is about to do the same, why stick around in the U.K? The banks are wondering the same albeit, for corporation tax and the ability to attract and retain staff.

As someone who experienced the 1980s, its all very worrying and change is needed, a big gamble is needed and thats what we saw yesterday.
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Do you know what happened 70s that caused the 80s to turn out they way they did?

Tax cuts... which failed to grow the economy.

You've not done much to disprove the banker stereotype unfortunately. How does you banking 40k help grow the economy? The 40k has trickled into your savings. Why do you need 40k over the people who are struggling to make ends meet due the cost of living crisis? I know, it's because Truss needed votes. If it was all about the economy then why did they not publish the OBR report?

I do appreciate your honesty, it's refreshing to see, it makes a change from the simps who hide behind semantics and dishonest posting.

The country will struggle to attract top talent in a lot of industries. Amongst other things, who wants to work in a country that voted to make itself worse off?
 
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n111ck said:
More tax cuts on the way :D

www.telegraph.co.uk

Liz Truss plans to cut taxes further in the new year

Reforms to income tax, savings and child benefits considered to boost economy
www.telegraph.co.uk www.telegraph.co.uk
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To be fair, the child benefit issue needed to be looked at a long time ago. Two parents each earning £50k can claim it, but one working adult in a household earning £60k can't. It was a bizarre rule in the first place
 
Diddums said:
lol

Crack on then, take a load of company loans out and buy some properties, let us know how you get on.
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I really like to hear your way to protect money and assets. If you laugh at trusts and company to stick them in. I really interested in you expert opinion.
 
Apparently Kwasi has more tax cuts coming in January for high earners. Seems he is determined to fight the markets the same way the Tories have been fighting reality for years.

He is going to lose. Should be an exciting week, Sterling and bonds are going to collapse.
 
So I see one proposal is in the next budget is to remove the removal of personal allowance between 100k and 125k (there is another thread somewhere covering this at length) so that’s another 5k. I know all the contractors have been saying how much benefit they are getting but we PAYE lackeys would be the “winners” on that one. Of course all this would be fine if the countries finances were in order but they aren’t so it’s just a fantasy “perception is reality” trick which is and had been the MO of this Tory party since 2016.

In other news, I still see posters calling for deregulation of the city without mentioning what regulations they are talking about. Unless you want to be guilty of that same Tory MO give examples please. For context for those who will queue up to school me hopefully I do have direct experience in this area that’s why I’d love to know what I am missing or where I need recalibrating.
 
n111ck said:
More tax cuts on the way :D

www.telegraph.co.uk

Liz Truss plans to cut taxes further in the new year

Reforms to income tax, savings and child benefits considered to boost economy
www.telegraph.co.uk www.telegraph.co.uk
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And more immigrants :D

www.thetimes.co.uk

Liz Truss’s plan for more migrants to boost growth

Liz Truss is facing her first cabinet row as she prepares to increase immigration to boost economic growth.The prime minister is pushing for wide-ranging refo
www.thetimes.co.uk www.thetimes.co.uk

It's almost like immigrant labour are a net benefit to the economy, who would have thought it!
 
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